AML Risk Soring for Credit Unions
Intelligence-led, business-specific customer risk scores for credit unions
Effective risk management is impossible without a complete and continuous examination of the various factors that make up customer risk.
Alessa’s risk scoring software for credit unions ensures your Compliance Team can identify and deal with high-risk clients. Alessa provides up-to-date customer risk scores based on comprehensive intelligence and analysis, looking at industry and business-specific factors.
Our risk-scoring model analyzes data from internal and external sources, producing a combined score to guide compliance and risk management activity. Risk scores are updated daily as customer behavior and status change. As a dynamic solution, our model can be configured with risk factors and weights specific to your needs.
Why Credit Unions Choose Alessa's Risk Scoring for AML Compliance
Custom Risk Scoring Models
Every credit union has a unique risk tolerance. As a result, your credit union should be using configurable risk scoring models, as standard models may not match your financial institution’s unique risk appetite. Alessa’s configurable risk scoring model provides a robust foundation of standard risk factors, while also allowing you to change factors and include additional factors, rules, and weights customized to your business environment.
A 360° View of Client Risk
Pair our risk scoring capabilities with our 360° View of Client Risk Dashboard to receive automatic daily updates of significant changes to client risk levels. Alessa’s 360° View Dashboard notifies you of clients whose risk scores have surpassed your organization’s risk threshold in the last 24 hours.
Reduced Manual Risk Assessments
Many credit unions’ Compliance Teams lack the resources for comprehensive manual customer risk investigations. Manual risk assessments are expensive, slow, and often inconsistent.. This approach can create outdated, inaccurate risk scores, even in high-risk scenarios. Automated risk scoring gives your compliance team the information they need at a glance, freeing them to give high-risk customers their full attention.
Scale Risk Management with Ease
Alessa risk scoring scales seamlessly as your customer base and transaction volume grow. Our cloud-based solution is designed to accommodate credit unions of all sizes. With Alessa, your risk management infrastructure is always a step ahead, facilitating strategic growth while maintaining high-risk assessment and compliance standards.
Data Integration for Better Scoring
Pairing our risk scoring solution with other modules enhances your customer risk profiles. Alessa’s complete solution pulls risk data from various sources, including our sanctions screening and transaction monitoring modules, to provide an assessment of the risks of doing business with an individual or business. You can configure how Alessa analyzes and applies that data to determine a customer’s risk level, based on your specific business needs.
Ongoing Support and Expertise
With Alessa, benefit from continuous expert guidance and ongoing support. Our Support Team helps to ensure your AML program remains robust and compliant.
AML Risk Scoring Software Configured for Credit Unions
Risk scoring with Alessa is simple. Configure the risk factors, weights, scores, and aggregates based on your organization’s specific needs, and be alerted when a client surpasses your risk threshold.
Industries We Serve
Integrated AML Solutions for Credit Unions
Alessa’s risk scoring module equips credit unions with the tools to gain a full understanding of customer risk ratings. Alessa’s complete AML solution for credit unions strengthens all areas of compliance, streamlining your compliance team’s ability to perform effective screenings, manage alerts efficiently, uphold the trust of their customers and regulatory bodies and more.
Our AML modules for credit unions include:
Integrated AML Software for Credit Unions
A complete AML compliance solution for credit unions on one integrated platform. Alessa provides seamless compliance functionality – from the first red flag to the final regulatory report.
A 360° View of
Each Client
Alessa provides a comprehensive risk profile with daily updates, crucial for credit unions managing diverse client activities and/or a large number of clients.
Identity Verification and KYC Compliance
Verify identities in real-time during onboarding, and conduct periodic and ongoing CDD for KYC and KYB processes.
Watchlist, PEP & Sanctions Screening
Implement a modern screening solution. With Alessa, pay only for the screening data you utilize, and reduce false positives with our proprietary PEP Scoring Model.
Transaction Monitoring
It is vital for credit unions to have a powerful transaction monitoring system in place that provides timely insights. Alessa allows your organization to conduct real-time, periodic and event-based transaction monitoring and screening based on your organization’s needs.
Automated Regulatory Reporting
Automated, accurate reporting by Alessa ensures your organization meets regulatory demands with confidence and ease. Alessa auto-populates, validates, and submits regulatory reports, including reports for FinCEN, FINTRAC, and numerous other regulatory environments.
Enhanced Due Diligence (EDD)
A solution that streamlines EDD reporting. With Alessa, order EDD reports directly from the application, receiving them in ⅓ of the time at ⅓ of the average industry price.
AML Case Management
Alessa provides highly automated workflows to streamline investigations and ensure collaboration across the team and organization.
Schedule a Free Demo
Create a more comprehensive client profile for better risk management with Alessa.
Book your complimentary demo of our AML Risk Scoring Solution for credit unions today.
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Excellent tool for fraud prevention and risk management
I have worked with Alessa for years because of how useful it is to thoroughly analyze transactions and identify suspicious operations
– Jane Doe, Company ABC
